EV Chargers Are an Under-Utilized Source of Parking Lot Monetization for Retailers

By October 17, 2019 Blog
Overhead view of filled parking lot

Overhead view of filled parking lot

The automotive industry is at a turning point. Electric vehicles are rapidly growing in popularity, and many property owners are capitalizing on the booming industry. In particular, if you own a business and are thinking about installing EV chargers, then parking lot monetization is a great way to generate some extra revenue for your business while also growing your customer base.

Read on to discover how you can boost your bottom line by equipping your parking lot with charging stations for electric vehicles.

How You Can Earn Money with EV Chargers

You may have noticed EV charging stations popping up on the properties of large apartment buildings, restaurants, schools, government buildings, and all types of businesses. They’re also becoming more common in parking garages and lots. While some of these property owners may be installing chargers because they want to save the environment, that’s not the only reason.

When it comes to installing EV chargers, parking lot monetization is a massive selling point. There are quite a few different ways that you can use your EV chargers to earn some extra revenue — both directly and indirectly.

For starters, providing EV chargers — especially in areas where they’re relatively uncommon — immediately puts your lot or organization on the map.

EV drivers take notice of charging station locations, so you may find that your customer base grows significantly after the installation. We saw this in action when we helped Bartels’ Harley Davidson offer EV-charging amenities for their customers.

The type of people who drive electric vehicles tends to be an ideal customer, too. They generally have high-paying jobs, and they (usually) want to make the world and their local community a better place.

If you’re considering installing EV chargers, parking lot monetization can also come in the form of charging for the electricity itself. Unlike many other charging station providers, EV Connect allows you to choose how much you charge. Whether you provide charging as a free amenity or take more of a traditional fuel station approach is up to you.

Another way that EV chargers help to increase your bottom line is the effect they have on your organization’s reputation as a whole. Want to make your marketing materials stand out? Providing EV chargers is a great way to get some positive attention, and sometimes even the press takes notice.

The Initial Cost

As you are navigating the process of installing EV chargers for parking lot monetization, you might assume that the equipment and installation won’t fit into your budget, even if the long-term potential is obvious.

You might be surprised to learn just how affordable the transition can be.

On average, a Level 2 charging station (the most common type) will cost you less than $1,500.

Our experts will help you qualify for government incentive opportunities that drastically offset the upfront cost.

For instance, the Federal EV Charging Tax Credit can provide a 30% tax credit up to $30,000.

Be sure to act fast, as many of these incentives are only available for a limited time until funding runs out.

A Growing Market

If you’re looking into installing EV chargers for parking lot monetization, you’ll be pleased to know that there’s virtually endless growth potential. According to the International Energy Agency (IEA), EVs ownership will grow from 3 million to 125 million by 2030.

That means that now is the time to invest in charging infrastructure before it becomes mainstream. As more and more parking lot owners recognize the enormous profit potential, the government isn’t going to need to provide incentives.

The key to successful investing is timing the market. Anyone who’s looked into installing EV chargers for parking lot monetization in recent times has come to the same conclusion: it just makes sense.

Electric vehicle charging station underground parking lot

Simple EV Charging Station Management

Beyond making the transition to electric charging easy and affordable, EV Connect provides comprehensive, ongoing management solutions so you can make your charging stations align with your needs and goals.

Our cloud-based app comes loaded with flexible tools for handling all aspects of access control, pricing policies, and asset management.

Our mobile app does more than just put you in control. Parking lot owners who are using EV chargers for parking lot monetization want people to be aware of their chargers, and our app does just that.

Your lot will be marked on our in-app map so drivers in the area know exactly where to go for their charging needs.

EV drivers can even make payments on the go through the app.

Exceptional Customer Support

We offer expert 24/7 customer support for both you and drivers who use our app. That means if you ever have any questions, we’re going to be ready to help you out in real-time so you can keep your stations up and running effectively.

Whether you want to adjust your rates or expand your offerings, we’re always willing and able to assist you.

Request a Quote Today

If using EV chargers for parking lot monetization sounds like an interesting prospect, we encourage you to get in touch now. We can provide you with a free quote and information specific to your parking lot’s unique needs and your personal preferences.

To get started, just give our team a call at (888) 780-0062 or send us a message online.

The first step is learning, and a quick consultation goes a long way in helping you to understand the enormous profit potential available to you.

Contact us today, and see why EV Connect is the go-to provider of comprehensive EV charging solutions for retailers and businesses all over the country.

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